US jobless down to 5 percent as 271,000 jobs created in October

[rooster59]

US jobless down to 5 percent as 271,000 jobs created in October

WASHINGTON: More than a quarter of a million new jobs were created in the American economy in October – a strong performance that makes an interest rate rise more likely when the Federal Reserve meets next month.

The unemployment rate dipped to 5 percent from 5.1 percent in September – close to a level often considered as full employment.

The figures released by the US Labor Department show a surge in the number of jobs created, to 271,000 in October – almost double the figure from the previous month (137,000).

Economists had been expecting an increase of around 180,000.

US Labor Secretary Thomas E. Perez said in a statement that the figures showed the nation was continuing to bounce back from the worst economic crisis in generations.

Services and health care have been particularly strong, though areas like manufacturing, mining and logging have been shedding jobs.

Some analysts still see signs of uncertainty – despite the good October figures the previous months had been poor.

The Fed appears to be keeping its options open: this week it emphasised that no decision had been made over a possible first rise in interest rates for a decade.

-- (c) Copyright Euronews 2015-11-07

[chuckd]

I just knew this was going to be a headline in the news forum today.

So called good news needs to be based on a touch of reality.

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Labor Force Participation Remains at 38-Year Low; 94,513,000 Not in Labor Force; Unemployment Ticks Down to 5.0%

By Susan Jones

November 6, 2015 | 8:58 AM EST

(CNSNews.com) - The number of Americans not in the labor force last month totaled 94,513,000 -- a slight improvement from the 94,610,000 not in the labor force in September--but the labor force participation rate nonetheless remained at its lowest point in 38 years, with only 62.4 percent of the civilian noninstitutional population either holding a job or actively seeking one.

The Bureau of Labor Statistics says economy added 271,000 jobs in October, well above economists' expectations of 185,000, and the unemployment rate dropped to 5.0 percent in October from September's 5.1 percent.

Federal Reserve Chair Janet Yellen told Congress on Wedesday that she sees the U.S. economy "as performing well," although "we have seen some slowdown in the pace of job gains recently."

Read more here: http://www.cnsnews.com/news/article/susan-jones/94513000-americans-not-labor-force-participation-rate-remains-38-year-low

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...and not everybody is dancing in the streets over the unemployment rate...

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Black Unemployment Rate: 9.2%, More Than Double White Unemployment of 4.4%

By Michael W. Chapman

November 6, 2015 | 10:36 AM EST

(CNSNews.com) – The latest numbers on unemployment in the United States show the black unemployment rate in October was 9.2%, which is more than double the rate of white unemployment of 4.4%.

The numbers, released by the U.S. Bureau of Labor Statistics (BLS), show that for white workers, 16 years and over, seasonally adjusted, the unemployment rate in October was 4.4% -- the same rate that it was for whites in September and August.

For blacks, 16 years and over, seasonally adjusted, the unemployment rate was 9.2% -- the same rate that it was in September, but down slightly from August’s rate of 9.5%.

Article here: http://www.cnsnews.com/news/article/michael-w-chapman/black-unemployment-rate-92-more-double-white-unemployment-44

[up2u2]

Great News.

That is extraordinary. America can do with some good news. Hopefully Hillary can continue the economic recovery. Even better if Bernie can sort out all the key sectors that ail America.

Due to the obstructionist practices of the Republicans in Congress this has been a long drawn out recovery from the right wing Republican destruction of the American economy.

[shirtless]

Figures never lie , except when the us government is involved ,

[craigt3365]

Agreed. But still better than a few years ago. And better than the prostignations of many who said the US was doomed! LOL

[tonypace02]

I have forgotten a fundamental economic response. Perhaps somebody can remind me. The increase in interest rates will likely cause a strengthening or weakening of the dollar?

Edited November 7, 2015 by tonypace02

[craigt3365]

The dollar is projected to get stronger. Hot money will flow back to the US. Interest rates are higher, risk is lower.

[gazzasore]

94 Million out of the work force does not seem to affect the figures

I have seen independant % and they say it's closer to 34% unemployment

[slipperylobster]

oh crap..

does this mean I can't collect unemployment anymore?

[slipperylobster]

The dollar is projected to get stronger. Hot money will flow back to the US. Interest rates are higher, risk is lower.

can't wait to see the opening exchange rate for usd on monday

[spidermike007]

Absolute horseshit. The low jobless rate has been fabricated by Blundering Barry got years now. That figure is a Frankensteinian creation of mythic proportions. So many revisions have been made to the criteria that it no longer means anything to those of us with questioning minds, and a strong distrust of disingenuous government.

[craigt3365]

Absolute horseshit. The low jobless rate has been fabricated by Blundering Barry got years now. That figure is a Frankensteinian creation of mythic proportions. So many revisions have been made to the criteria that it no longer means anything to those of us with questioning minds, and a strong distrust of disingenuous government.

The friends I have in the US, which are many, say things are going great. Be careful what you read in the media. But from what I hear, it's pretty good. As is usual, many unemployed that prefer to be unemployed. Sadly....

[Thaidream]

It doen'tmatter whether its real or not. The exchange market will see this as a reason to drive the Dollar higher. Expect 36 Baht on MOndy and if they raise the interest rates 37 is possible. Thailand's economy is in trouble or maybe that is a manipulation also?

[Thaidream]

Who cares whether its fabricated or not. The currency markets will follow course. Monday the dollar will open at 36 to the Thai Bah. When the Fed raises interest rates 37 is next. Xmas and New Year look brighter.

[arjunadawn]

94 Million out of the work force does not seem to affect the figures

I have seen independent % and they say it's closer to 34% unemployment

I am not sure people actually translate what you are saying but you are dead right! This is how Unemployment numbers from the US Gov are able to successfully dupe most Americans. Few understand that the these numbers only count people who are actually out looking, registered as looking, collecting benefits, etc. These do not include Farm numbers, etc. These numbers are arrived at totally by fiat- what they choose to count.

The real issue is the near 100 million out of the work force, as you note. These people are people who could be working, should be working, but are no longer counted because they cannot get unemployment, and are otherwise out of work for x amount of time. What this does is artificially create the sample numbers you then derive the Unemployment percentage- why? Because it only counts a certain, select group of people. Meanwhile, nearly 100,000,000 who could be working are not.

Thus it is not simply a matter of difference of opinion of meaning it is a matter of great subterfuge and deceit. America is actually hollowing out, cannibalizing money from one pocket to float the appearance of money in another pocket, while Rome rots. 271,000 jobs created does not even roughly touch the near 100 million. Why? The calculation of these jobs is based on those in the sample population. Those people went to work. Those newer unemployed went to work.

America is in a long agonal sigh.

[Thaidream]

Absolutely correct. The American government manipulates everything to keep its populace in the dark and uniformed. The current administration has done nothing to help the poor or middle class and I doubt the next President will do anything either unless a miracle happened and Bernie Sanders was elected. The truth is that the United States is printing money at an alarming rate and while the markets are reacting they do so because they know that if the US goes under so will they. Politicians, Lawyers and Accountants. Only they will be left along with the cockroaches if a nuclear war erupts. You can't tell the difference.

[Dumbastheycome]

Prostitution and resultant healthcare services.... yeehaa!

[Thaidream]

Uh... Want to explain that?

[Mike45]

Did we forget about the Baby Boomers.... Data from the U.S. Census Bureau show that there are 76.4 million baby boomers. There were actually a total of 76 million births in the United States from 1946 to 1964, the 19 years usually called the "baby boom."

Everyone knew that eventually the Baby Boomers would retire and be "out of work" and not seeking employment due to retirement or disability.

I was born near the end of that era and expect to retire next year. I don't intend to look for work so I'll be part of that statistic just like my elderly father.

Baby Boomers aging has caused many expected issues in the USA.

Medical services have and will continue to Boom.

Baby Boomers have prospered and due to there deaths are causing the greatest weath transfer ever seen in the USA.

Social Security and Medicare are straining under the increased load of the Baby Boomers due to inadequate planning.

We all saw this coming why is anyone surprised.

Should my father and I go to work until we die to make the numbers look better for you?

Opinions are like A"""""s....everybodys got one.

[Dumbastheycome]

Absolutely correct. The American government manipulates everything to keep its populace in the dark and uniformed. The current administration has done nothing to help the poor or middle class and I doubt the next President will do anything either unless a miracle happened and Bernie Sanders was elected. The truth is that the United States is printing money at an alarming rate and while the markets are reacting they do so because they know that if the US goes under so will they. Politicians, Lawyers and Accountants. Only they will be left along with the cockroaches if a nuclear war erupts. You can't tell the difference.

An alarming truth ! If any other country printed money at the same rate it would be valued less that toilet tissue ! The only factor that keeps it bouyant is the relentless destruction of any alternative. There will come a day !

[chuckd]

Of the 94,513,000 US workers that are no longer in the labor force, nearly 60% of them are women.

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56,540,000 WOMEN NOT IN LABOR FORCE

by CAROLINE MAY

6 Nov 2015

The number of women outside the workforce decline slightly in October, according to new government data released Friday.

The Bureau of Labor Statistics reports that 56,540,000 women (ages 16 and over) were not employed or had made an effort over the past four weeks to find a job. October’s figures represented a decline of 107,000 from September’s record-breaking level of 56,647,000 women not in the workforce.

The workforce level for women mirrored the situation nationally, which saw the number of people outside the workforce at elevated levels but down slightly compared to September. Overall, 94,513,000 Americans were out of the workforce in October.

More here: http://www.breitbart.com/big-government/2015/11/06/56540000-women-not-labor-force/

[ggt]

Two quick notes:

1. Actual US unemployment is more than double what is distributed as gospel...the US government does not count those who fall off the unemployment rolls and still do not have a job...

2. The Fed is afraid to raise interest rates by even .25 %...which is as close to nothing as one can get...because of the signal it sends to the economy and the ripple affect it will have throughout the world...no more free money...businesses and governments will start to have to pay for US dollars...

[Credo]

I have had the opportunity to spend several weeks traveling through a number of US states. One thing that struck me was the number of 'help wanted' signs in store windows. These were in a lot of fast food places, restaurants, gas stations etc. Some places listed a starting salary higher than the usual entry level, minimum wage.

[Thaidream]

Yes, there are jobs available at minimum wage or just above. However, when a college graduate has borrowed over $200K to get a degree and the only jobs available are such as these, they can't even repay their loan debt. I don't begrudge these type of jobs. It is honest work. However, this type of job environment in the US is not sustainable long term. Big business is greedy and if they were really interested in helping Americans they would bring the jobs back from offshore. The reason they don't besides greed is the tax advantages of keeping jobs overseas. The I phone is made in china but priced as a US made phone. I will never , ever buy one until these jobs return to America. My 1000 Baht Nokia works fine.

Edited November 7, 2015 by Thaidream

[NeverSure]

- snip- The truth is that the United States is printing money at an alarming rate...

Bullshit. The US doesn't "print money" other than to replace damaged money and to keep pace with ordinary inflation. There aren't more actual USD in this world than there were 30 years ago other than for the above reasons. ATM there are about 1.4 trillion USD in the entire world.

If the US could just "print money" it wouldn't need to increase its debt every year. Think about that. When it needs money it borrows it.

I have had the opportunity to spend several weeks traveling through a number of US states. One thing that struck me was the number of 'help wanted' signs in store windows. These were in a lot of fast food places, restaurants, gas stations etc. Some places listed a starting salary higher than the usual entry level, minimum wage.

This is so true. It's hard to read the bullshit from some posters when you drive around the country and see so many help wanted signs on businesses. Many who aren't in the workforce don't want to work and many are collecting benefits because they are lazy.

There are tons of jobs listed even on Craigslist and many are very good jobs.

Then there's always that segment that failed to get an education or learn a good trade and they often blame everyone else when all that's available for them is flipping burgers for people who did get an education.

The US is doing fine, thank you, despite those who refuse to make the effort to participate.

Cheers.

[JeffreyO]

94 Million out of the work force does not seem to affect the figures

I have seen independant % and they say it's closer to 34% unemployment

Please provide links. That type of figure is absolutely ludicrous. Can you imagine how many people would be on the street begging if 34% of the population were unemployed?

Considering I travel back to the USA often, traveling between rural Oklahoma and Arkansas, New York City, San Francisco & Seattle, I'm calling BS on your claims. I have seen no such issues, in fact many that I knew that had employment issues are currently gainfully employed. Please spread your fear mongering elsewhere unless you have facts to back it up.

[Chicog]

And more good news:

Average hourly earnings also bounced back, rising 0.4 percent in October after showing no increase in September; that lifted the gain to 2.5 percent over the last 12 months, the healthiest since 2009.

Link

Of course this makes it ever more likely that the interest rate will finally rise, too.

[terryp]

Agreed. But still better than a few years ago. And better than the prostignations of many who said the US was doomed! LOL

If you think all is well i think you need to read a lot more; what-ever your people in the US are telling you.

Why is it that the US Fed (you know the place that issues all the treasurys for their member collegues of the US banks to buy) are having to buy back all the treasurys being sold secretly via a front agent in Belgium???...yes everything must be wonderful LOL

almost 20 trillion in debt and almost 100 million with NO JOBS..................thats why they a swamping the country with all the immirants like the EU..its a planned take down and that includes the $

just because a few more people have part time seasonal jobs for the holidays at Target and Walmart means nothing

Edited November 7, 2015 by terryp

[Jingthing]

I tend to not believe these statistics either. Sadly. Too many millions who will never find a job again and haven't been counted for many years now.

[Dustdevil]

Agreed. But still better than a few years ago. And better than the prostignations of many who said the US was doomed! LOL

The Commonwealth and European America-bashers should look closer to home. It's Europe that on the face of it looks doomed--miserable economy and unemployment, surges of Muslims, Sharia patrols in some parts of London, Rotherham horrors aided by politically correct police...no-go zones in Sweden and rapes by Muslim men...